I think $YUSD is massively undervalued, its design gives it unique advantages compared to other stablecoins.
First, itās fully BTC-backed, meaning itās entirely independent of fiat or centralized stablecoins. That independence is crucial, especially during global crises like the one weāre in now.
The drawback of being BTC-backed is the risk of depeg if BTC dump. Given BTCās volatility, this is a real risk, but @aegis_im mitigates it by using BTC-margined futures (COIN-M) to stay delta-neutral.
Holders of YUSD earn yield simply by holding the stablecoin, without staking or locking tokens. The yield comes from funding rate arbitrage.
+ the minting process is carefully designed, new YUSD can only be created when collateral (USDT, USDC, or DAI) is deposited into Aegisā minting contract, which then converts it into BTC. Smart contracts and controls are in place to minimize systemic risks.
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I think $YUSD is massively undervalued, its design gives it unique advantages compared to other stablecoins.
First, itās fully BTC-backed, meaning itās entirely independent of fiat or centralized stablecoins. That independence is crucial, especially during global crises like the one weāre in now.
The drawback of being BTC-backed is the risk of depeg if BTC dump. Given BTCās volatility, this is a real risk, but @aegis_im mitigates it by using BTC-margined futures (COIN-M) to stay delta-neutral.
Holders of YUSD earn yield simply by holding the stablecoin, without staking or locking tokens. The yield comes from funding rate arbitrage.
+ the minting process is carefully designed, new YUSD can only be created when collateral (USDT, USDC, or DAI) is deposited into Aegisā minting contract, which then converts it into BTC. Smart contracts and controls are in place to minimize systemic risks.